India and the United States are speeding up efforts to end the first phase of the bilateral trade agreement, as the two sides are now aimed at concluding the deal by early July. Today, Friday, sources said that the high -level delegation, led by the Minister of Trade and Industry, is traveling to Washington in the coming weeks to lead the negotiations. Development is a shift from the previous plan, which targeted a broader agreement in the fall.
The sources indicated that although “the deadline is to conclude the deal according to the free trade agreement, both countries hope that the deal will be implemented before the time, around the first week of July.”
On April 2, Trump implemented a 26 % mutual tariff for India, which contradicts the rate of 52 % tariff for India on goods in the United States.
On April 10, the United States temporarily suspended the imposition of more customs tariffs on Indian exports for 90 days, scheduled to end on July 9. This decision was considered a positive gesture of fame and a step towards promoting progress in commercial negotiations.
US President Donald Trump participated on Thursday that India proposed a trade agreement with the United States, which will include “practically not tariffs” on a wide range of American products, Reuters said.
Trump’s recent comments come after his previous comments on April 30, in which he stated that discussions with India regarding identification issues were progressing positively and was optimistic about the final touches on an agreement soon. During an event in Michigan, he said: “Negotiations on definitions with India are well advanced, and I think we will reach an agreement in the near future.”
However, within hours, Minister of Foreign Affairs S Jaishankar confirmed that the commercial talks between India and the United States are ongoing, adding that the process is far from being final.
Speaking on the sidelines of an event in New Delhi, Gaishhankar said: “Between India and the United States, commercial talks were ongoing, negotiations were continuing. The team is going at this at this stage … This is a very complicated deal, it is very complicated negotiations. On that it will be premature.”
During his visit to Qatar, Trump confirmed on Thursday that he played an important role in alleviating tensions between India and Pakistan. He stated that he had discussed with both countries on commercial issues while speaking to the American forces.
He said: “Let’s circulate instead of going to war. Pakistan was very happy with that, and India was very happy with that, and I think it is on the way, as you know, they were fighting for about 1000 years in all fairness …”
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